4 ms·
So it's not really a flat tax -- it's just a tax system with tax credits and fewer brackets than we have now. I'm sure there will be other popular proposals for
by twblalock 10y ago
So it's not really a flat tax -- it's just a tax system with tax credits and fewer brackets than we have now. I'm sure there will be other popular proposals for tax credits and deductions: EITC? Charitable donations? Investment losses? Mortgage interest?
If we adopt a flat tax, we will eventually turn it back into the same tax system we have now, for the same reasons we ended up with our current system in the first place -- people like all of the credits, deductions, and exclusions they get now, and they would vote to restore them in a heartbeat.
- laughfactory 10y agoI get your point, and I agree nothing short of something really catastrophic will drive any change. And then there will be pressures to corrupt it all over again. But imagine if it was a constitutional amendment. It wouldn't be impossible to pervert, but it would be harder than it is now.